First Horizon Advisors Inc. Invests $5.14 Million in Potlatch Corporation (NASDAQ:PCH)

First Horizon Advisors Inc. purchased a new stake in shares of Potlatch Corporation (NASDAQ:PCH) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 113,869 shares of the real estate investment trust’s stock, valued at approximately $5,138,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Proficio Capital Partners LLC bought a new position in shares of Potlatch in the 4th quarter valued at approximately $741,000. Charles Schwab Investment Management Inc. grew its holdings in Potlatch by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,542,771 shares of the real estate investment trust’s stock valued at $60,554,000 after purchasing an additional 70,745 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Potlatch by 91.2% in the fourth quarter. Victory Capital Management Inc. now owns 41,976 shares of the real estate investment trust’s stock valued at $1,648,000 after purchasing an additional 20,022 shares during the period. Fiduciary Counselling Inc. raised its position in shares of Potlatch by 0.5% in the fourth quarter. Fiduciary Counselling Inc. now owns 116,716 shares of the real estate investment trust’s stock valued at $4,581,000 after purchasing an additional 607 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Potlatch in the fourth quarter worth $2,128,000. Institutional investors and hedge funds own 86.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PCH. Truist Financial lowered their target price on shares of Potlatch from $44.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. Citigroup restated a “buy” rating and set a $47.00 price target (down from $49.00) on shares of Potlatch in a report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Potlatch presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.57.

Potlatch Stock Performance

Shares of NASDAQ PCH opened at $39.98 on Friday. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 65.54 and a beta of 1.14. Potlatch Corporation has a one year low of $36.82 and a one year high of $48.12. The business has a fifty day simple moving average of $39.00 and a 200 day simple moving average of $41.25. The company has a current ratio of 1.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.45.

Potlatch (NASDAQ:PCH) last announced its quarterly earnings results on Monday, April 28th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.13. The firm had revenue of $268.26 million for the quarter, compared to analyst estimates of $243.68 million. Potlatch had a net margin of 4.35% and a return on equity of 2.36%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. Sell-side analysts expect that Potlatch Corporation will post 0.8 EPS for the current year.

Potlatch Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Friday, June 6th. Potlatch’s dividend payout ratio (DPR) is presently 295.08%.

Potlatch Profile

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.